Here are the top three reasons to get into Belize real estate:
1. Local Currency Fluctuation Is Low
One of the reasons people sometimes hesitate in buying foreign real estate is the fluctuation of local currency. It can cause property values to disappear if it changes often enough. However, Belize currency is tied to the US dollar. Two Belize dollars are always equal to precisely one US dollar. This not only keeps currency fluctuation to a minimum, but it also makes exchange rates extremely easy and simple. If you live in the United States or use the USD as your main currency for financial moves, then investing in Belize real estate automatically becomes that much easier.
2. Property Rights and Taxes Are Simple and Affordable
Another hesitation in buying foreign real estate is how property rights work. For example, some places require you to be a citizen or full-time resident in order to truly own your property. This results in less security and more complex issues in dealing with it. Another problem is when you buy a property and it’s just a glorified leasehold. It can complicate leaving your property to your heirs. Belize doesn’t have this issue. Anyone can buy property in Belize and own it outright. Along with uncomplicated property rights is the fact that Belize has low property taxes. Property taxes in Belize are based on the value of undeveloped land, which means it has nothing to do with any structure built on it. The property tax rate is also only 1.5 percent of the undeveloped land value. In conclusion, Belize real estate is both affordable and surprisingly uncomplicated to get into.
3. Tourism and An Unsaturated Market
Tourism numbers rose in 2019 over the previous year and are likely to rise again when pandemic-related restrictions loosen around the world. It’s easy to see why people love going to Belize. The climate and the beaches are hard to beat. Plus, English is widely spoken in Belize. Tourists need places to stay, and the Belize real estate market is surprisingly unsaturated. It’s still a buyer’s market. Beachfront property and undeveloped land are still widely available for affordable prices. There has been growing foreign investor interest in recent years, but there’s still plenty of opportunities for new investors to set up shop in Belize.
If you’re looking to invest in Belize real estate, there’s no better place to do it than with Hesed Realty Belize. Whether you’re looking for riverfront property with amazing views, farm acreage or acres of tropical paradise with waterfalls and creeks, you can trust Hesed Realty Belize for all your real estate needs.